Verdion has announced its plan to speculatively develop two logistics units at its £400 million iPort development in Doncaster, South Yorkshire.
Due to significant demand in the market and a shortage of Grade A warehouse space, Verdion, with its funding partner the Healthcare of Ontario Pension Plan (HOOPP), has pushed the button on the development of one 200,000 sq ft (18,580 sq m) unit and one unit of 120,000 sq ft (11,148 sq m).
The Grade A warehouse space will be specified to suit multiple user requirements with expansion potential to double both units’ initial floor area. The buildings will be constructed simultaneously and are scheduled for completion in Q1 2016.
John Clements, European Development Director at Verdion, comments: “Due to strong occupier demand and the ever decreasing supply of existing space, the time is right for us to build inventory stock. iPort can accommodate individual unit sizes from 50,000 sq ft to over 1.2m sq ft in a variety of configurations and specified exactly to occupiers needs. We believe this flexibility as well as the many other attributes will enable iPort to capture any number of space requirements in the South Yorkshire market and beyond.
“We are also pushing forward with the £21 million infrastructure works package as well as the construction of the rail terminal and, with detailed planning consent for the first 3 million sq ft (278,700 sq m) already in-place, much needed, high-quality, logistics space can be delivered very quickly on site.”
iPort is a Strategic Rail Freight Interchange (SRFI) which will deliver over 6 million sq ft (570,000 sq m) of Grade A logistics warehousing linked with a high specification rail freight intermodal container facility providing rail freight services with continental gauge clearance to all major UK ports and the Channel Tunnel. The scheme offers design and build warehouse/logistics units from 50,000 (4,645 sq m) to 1.2 million sq ft (111,480 sq m).
Verdion is developing the scheme on a 700 acre (283 hectare) site in Rossington, Doncaster. The site is linked with Junction 3 of the M18 via the Finningley and Rossington Regeneration Route Scheme (FARRRS).
Mayor of Doncaster, Ros Jones, added: “This is tremendous news for Doncaster and shows the confidence investors have in the town. The FARRRS link road is driving our economy forwards with iPort being just one of a number of major private sector developments coming to fruition which will deliver jobs and growth.”
Gent Visick, CBRE and Cushman & Wakefield are letting agents for iPort.
Notes to editors
Verdion is a major real estate investor and developer with a specialist focus on logistics warehousing in mainland Europe. The company has offices in Dusseldorf and London. Formerly known as Helios Europe, Verdion was formed in January 2010 by Michael Hughes.